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Wednesday, April 5, 2017

Deep State skates: No charges will be filed against Richmond Federal Reserve Pres. Jeffrey Lacker who leaked private information to financial publisher in 2012 then lied by not disclosing his actions during internal review. Now says he's resigning-CNBC

In his letter of resignation,
Lacker admitted to speaking to an analyst at Medley Global Advisors
regarding the September 2012 Fed meeting. Medley publishes analysis for
hedge funds and asset managers andis owned by the Financial Times.
Lacker said his actions violated Fed communications policies that
prohibit "providing any profit-making person or organization with a
prestige advantage over its competitors."

Lacker said he was asked by an
analyst about an "important nonpublic detail" regarding the Federal Open
Market Committee's policy options.

"Due to the highly confidential
and sensitive nature of this information, I should have declined to
comment and perhaps have ended the phone call," Lacker said....

In addition, Lacker said he was obligated to disclose that the analyst had confidential information, which he did not do.

Medley ultimately told clients
in October 2012 that the Fed would initiate another leg of its monthly
bond-buying program in December. The author of the note was Regina
Schleiger, who added in the note that Fed members had been up after
midnight preparing for the meeting, according to the New York Times....

The Fed was criticized for not referring the leak to the Securities
and Exchange Commission or the FBI. Instead, Fed General Counsel Scott
Alvarez lead a Fed probe into the matter from October 2012 until March
of 2013.

The Fed also released a statement saying, it "is committed to
maintaining the security of confidential FOMC information. We cooperated
fully with the independent law enforcement investigation into an
unauthorized disclosure in 2012. We appreciate the diligent efforts made
to bring this matter to its conclusion.""

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Comment: "The Fed was criticizedfor not referring the leak to the Securities
and Exchange Commission or the FBI."The Fed "was criticized" by whom? Why is this sentence written passively? We all know laws don't effect the Deep State, so criticism certainly doesn't. Nevertheless, if the CNBC reporter knows "the Fed was criticized," why didn't he allow the peasants to know who did the criticizing?